Kiteboarding Equipment Sales Are Projected To Increase At A CAGR Of 14.7% During 2022–2032

Posted on 2022-11-03 by Fact.MR in Sports // 0 Comments

As per a recent published report by Fact.MR, a market research and competitive intelligence provider, the global kiteboarding equipment market is anticipated to exceed a valuation of US$ 909 million in 2022, and expand at an impressive CAGR of 14.7% over the forecast period of 2022 to 2032. Increasing participation in recreational water sports is majorly driving market expansion across regions.

Rising involvement of sports enthusiasts in recreational water sports continues to boost the sales of recreational water sport products such as kiteboards, kites, kite bars, and other surfing accessories. For instance, according to the National Marine Manufacturers’ Association (NMMA), more than 181 million people in the United States participated in recreational water sporting activities in 2020.

Kiteboarding, which has become increasingly popular in recent years, is no exception, and is expected to gain high traction, which is expected to push the sales of kiteboarding equipment beyond US$ 3.6 Billion by the end of 2032.

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Key Takeaways from Market Study

141 – 150 cm kiteboards are likely to witness sales of close to US$ 1.5 billion by 2032.
Based on equipment/gear, kiteboards and kite bars are likely to hold a market share of around 18% and 31%, respectively, by 2032.
The 9 – 13 meters segment in kite size is likely to expand at a CAGR of 15.6% over the forecast period of 2022-2032.
Based on region, demand for kiteboarding equipment is expected to increase at CAGRs of 14.5% and 12.7% in Europe and Middle East & Africa, respectively.
Together, North America and Europe are likely to represent over 75% of overall market share in 2022.
The market in East Asia is expected to be valued at US$ 293 million by 2032.

“Increasing number of active participants in international games to aid higher adoption of kiteboarding equipment,”says a Fact.MR analyst.

What Can Stunt Kiteboarding Equipment Demand Growth to Some Extent?

“High Cost Factor and Dangers Associated with Kiteboarding Hampering Demand Growth”

Kiteboarding is considered a risky sports activity. A large number of incidents of injuries and drowning during kiteboarding have been observed, thereby hampering the adoption of kiteboarding equipment.

Increasing changes in climate and the resulting impact is also likely to hinder growth of the market. Kiteboarding is also a costly affair. Consumers have to shell out hefty amounts of money for purchasing safety equipment. This particular factor is restraining people from opting for kiteboarding, which is naturally hindering the growth of the global market.

What is the Growth Outlook for the U.S.-based Kiteboarding Equipment Market?

“U.S. Market Benefitted by Large Number of Kiteboarding Equipment Manufacturers”

The market for kiteboarding equipment in the U.S. is anticipated to rise at a CAGR of 16% over the forecast period due to a number of famous kiteboarding competitions and champions in the country, such as the Kite Foil National Championship and Formula Kite World Championship.

In 2020, there were about 63 million travelers to the U.S, a sudden downfall of 74% as compared to 2019. However, the U.S. is a pioneer in the North America kiteboarding equipment market, with over hundreds of small- to medium-sized kiteboarding equipment manufacturing companies operating in the country.

Category-wise Insights

Which Sales Channel is Driving Huge Revenue Generation for Kiteboarding Equipment Suppliers?

“Third-party Sales of Kiteboarding Equipment Surging”

The evolving trend of online sales across the globe is important for the growth of the market. In addition, rising demand for social distancing and non-contact during the COVID-19 pandemic is likely to play a key role in people refusing to visit shops and ordering online through various e-Commerce websites.

Third-party online sales is the most lucrative sales channel these days with a total valuation of US$ 346 Mn in 2021.

Companies are currently focusing on online sales due to consumers’ inclination towards online companies such as Amazon, Walmart, etc. The third-party online segment is projected to create an absolute opportunity of more than US$ 1 Bn, expanding at a CAGR of 16.0% over the forecast period.

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Competitive Landscape

According to the kiteboarding equipment industry analysis, North Kiteboarding, F-One, Best Kiteboarding, Cabrinha Kites, RICCI INTERNATIONAL SRL, Go Foil, Inc., Duotone, Slingshot Sports, Naish International, Peter Lynn Kiteboarding, Nobile Sports Sp. z o.o., Airush Kiteboarding, Fly Surfer Kiteboarding, Crazy Fly s.r.o., Eleveight, Switch Kiteboarding, Core Kiteboarding GmbH, Kite Attitude, Fletcher Chouinard Designs, Inc, and Lite Wave Designs are identified as key manufacturers of kiteboarding equipment.

These companies depend on a blend of organic & inorganic strategies to increase penetration across productive markets. Such approaches include partnerships and collaborations, new product launches, acquisitions of emerging players, and strengthening of global and regional distribution networks.

Some of the key developments are:

In 2021, Duotonelaunched a new product called kite bags and some apparel made from recycled plastic. Growing emphasis among consumers on environmental conservation will drive the sales of such products.
In 2021, North Kiteboardinglaunched one freeride kite, which is lighter in weight. The company also adopted lightweight bladders across all sizes in the range, refined the shape, and retuned the short responsive bridle for quick, exponential depower.
In 2021, Slingshot Sportslaunched new kiteboarding equipment called the SST V6 kite. The SST V6 is lighter and more streamlined with a strategic design to enhance wave-riding performance.
In 2020, North Kiteboardingextended its partnership with Red Bull South Africa for the King of the Air kiteboarding competition
In 2020, F-Oneupdated its various kiteboarding equipment, such as kiteboards with new vertical panel layouts. Such updates in materials and new designs are improving the profile of the company
In 2020, Cabrinha Kiteswas acquired by Water bound Investment Company. The new ownership will focus more on the advancement of product development and athlete partnerships.

Similarly, recent developments by top providers of kiteboarding equipment have been tracked by the team at Fact.MR, which are available in the detailed report.

Market Segments Covered in Kiteboarding Equipment Industry Research

By Equipment/Gear:

Kiteboards
Twin-Tip Kiteboards
Light Wind Kiteboards
Wave Kiteboards
Foil Kiteboards
Other Types
Kites
C-Kites
Hybrid C-Kites
Delta Kites
Foil Kites
Kite Bars
3-Line Kite Bars
4-Line Kite Bars
5-Line Kite Bars
Kite Harness
Waist Harness
Seat Harness
Safety Gears
Eye Protection Gear
Impact and Flotation Vests
Helmets
Accessories
Straps and Bindings
Kite Pumps
Wind Meters

By Kiteboard Size:

<130 cm Kiteboards
131 – 140 cm Kiteboards
141 – 150 cm Kiteboards
>150 cm Kiteboards

By Kite Size:

<8 meter Kites
9 – 13 meter Kites
14 – 18 meter Kites
>18 meter Kites

By Consumer Orientation:

Kiteboarding Equipment for Men
Kiteboarding Equipment for Women
Unisex Kiteboarding Equipment
Kiteboarding Equipment for Kids

By Sales Channel:

Specialty Sports Outlets
Direct to Customers
Supermarkets & Hypermarkets
Third-party Online

By Region:

North America Kiteboarding Equipment Market
Latin America Kiteboarding Equipment Market
Europe Kiteboarding Equipment Market
East Asia Kiteboarding Equipment Market
South Asia & Oceania Kiteboarding Equipment Market
Middle East & Africa Kiteboarding Equipment Market

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